TAXES, FINANCIAL DECISIONS AND ORGANIZATIONAL FORM - EVIDENCE FROM PUBLICLY TRADED PARTNERSHIPS

被引：33
|
作者：
GENTRY, WM [1 ]
机构：
[1] NBER,CAMBRIDGE,MA 02138
来源：
JOURNAL OF PUBLIC ECONOMICS | 1994年 / 53卷 / 02期
关键词：
D O I：
10.1016/0047-2727(94)90022-1
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Publicly Traded Partnerships (PTPs), also known as Master Limited Partnerships, are similar to U.S. corporations, yet they are not subject to corporate taxes. Given their mixture of corporate and partnership characteristics, PTPs provide an experiment for studying taxation and firm financial decisions. This paper compares the financial structure and dividend policies of PTPs and corporations in the oil and gas exploration industry. The results are consistent with hypotheses about taxes and financial decisions: controlling for other factors, PTPs pay more dividends and borrow less than similar corporations.
引用
收藏
页码：223 / 244
页数：22
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